FDIC Chairwoman: Bloggers “Out of Control,” Government Planning “Public Education Campaign”
“The blogs were a bit out of control,” Sheila Bair, chairman of the Federal Deposit Insurance Corp., told the San Francisco Business Times after a speech in San Francisco this week.
Oh yeah...we're out of control....we're the ones invoking panic....the Fed is perfectly sane.....ok...
That's the funniest fucking thing I think I've ever read.
Wachovia is pumping out fake 100's and she thinks the problem is with bloggers' attempts at warning the public as to just how dire the situation is.
Tell me this, Sheila....how many people walked away from the IndyMac collapse with only half the cash they had in the bank? And we're just brushing the surface with IndyMac...but she has a plan to combat all us Chicken Little Bloggers:
“We’re very mindful of the media coverage and blogs in controlling misinformation. All I can say is were going to continue to stay on top of it,” Bair said. “The misinformation that came out over the weekend fed a lot of depositors’ fears.”
I have some advice for Ms. Bair....instead of launching a "public education campaign"....save what little cash you have left for the next round of seizures.
I'm curious how her campaign is going to explain how the FDIC's 53 billion dollar cache is going to cover the coming 144.5 billion dollar Citigroup train wreck. She may want to hire this guy to lead that campaign: